IMF hails economic progress

The International Monetary Fund (IMF) considers that Mali has made “considerable progress” in its economy since 1994, but says it still needs outside assistance to achieve its social and economic goals. According to an IMF report, Mali - under economic programmes governed by the Enhanced Structural Adjustment Facility - sustained its economic growth in 1998, despite adverse weather conditions. However, as the economy was still “fragile”, the IMF recommended additional debt relief for the country. It also urged the Malian authorities to continue with their policy of fiscal consolidation, including modernisation of the tax system, and to accelerate structural reforms.